Thursday, September 24, 2020

PM predicts economy will shrink less than 10% in 2020

Aug 07. 2020
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By The Nation

Prime Minister General Prayut Chan-o-cha has predicted the Thai economy will contract less than 10 per cent this year, thanks to its strong economic fundamentals and effective handling of the Covid-19 outbreak.

He made the prediction during a speech on the economy at an event hosted by the Bangkok Post to celebrate its 74th anniversary on August 6.

He added that the economy grew 1 per cent in 2014 after he assumed the premiership in August that year, rising to 3.1 per cent in 2015 and 3.4 per cent in 2016.

The growth trend had continued until this year when the economy was brought to its knees by the outbreak, said the premier.

The government has launched a series of relief measures to help businesses and people survive the crisis, he added.

Related storyPrivate sector cuts GDP forecast to -9% as baht adds to business worries

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